Commercial Refrigeration Compressor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Commercial Refrigeration Compressor Market

The Commercial Refrigeration Compressor market size was valued at USD 161.4 million in 2018, and the market is now projected tgrow from USD 161.4 million in 2018 tUSD 295.5 million by 2032, exhibiting a CAGR of 4.1% during the forecast period of 2023-2030.

The COVID-19 pandemic had a mixed effect on the Commercial Refrigeration Compressor market growth. On the one hand, the call for refrigeration structures surged in sectors like pharmaceuticals and healthcare, pushed by the need for cold garages of vaccines, medications, and COVID-19 testing supplies. Similarly, the meals and beverage enterprise witnessed increased calls for refrigeration answers due tpanic buying and the upward thrust in online grocery buying. However, the marketplace confronted good-sized demanding situations, such as delivery chain disruptions, hard work shortages, delays in production and challenging deployments. Additionally, the closure of motels, eating places, and different hospitality establishments at some point of lockdowns temporarily reduced the call for in those sectors.

Many companies are specialising in cost discounts inside the production of business refrigeration compressors. A large variety of industrial refrigeration compressor companies are alsstriving tacquire progressed stages of performance. They are financing deeply of their studies and development division tincrease new technologies within the Commercial Refrigeration Compressor market share. Owing tthese elements, business refrigeration compressors are expected trevel in greater demand for the duration of the forecast duration.

Additionally, with the growing populace, the demand for superstores is alsanticipated tgrow. Also, the demand for great air first-rate for supermarkets and hypermarkets is anticipated tsignificantly push upward, contributing undoubtedly tthe increase of the commercial refrigeration compressors market.

Comprehensive Analysis of Commercial Refrigeration Compressor Market

The commercial refrigeration compressors market is segmented by way of kind, cooling capability, and alertness. By kind, it includes reciprocating, screw, rotary, and others, with the reciprocating phase holding the most important proportion in 2018 because of its vast commercial and domestic packages, even as rotary compressors are predicted tgrow at the highest CAGR because of their use in cut up systems. Screw compressors dominate large commercial programs, and scroll compressors are widely used in HVAC structures. Cooling capacity is categorised intUp tone kW, 1–15 kW, 15–100 kW, and Above a hundred kW, with the 1–15 kW phase main the marketplace, driven with the aid of the strength-green reciprocating compressors. Applications encompass refrigerators and freezers, refrigerated display cases, delivery refrigeration, beverage coolers and freezers, and others like merchandising and ice machines. Transport refrigeration is expected tregister the highest CAGR, fueled by the developing frozen food industry, pharmaceutical calls for rising earnings, and expanding street freight networks, especially in growing regions where minimising food wastage is a priority.

He Asia Pacific ruled the industrial refrigeration compressor market with a percentage of 42.44% in 2018. Asia Pacific commercial refrigeration compressors marketplace is anticipated tdominate the marketplace and predicted tshowcase the best CAGR throughout the forecast duration owing tspeedy industrialisation, rising economic boom and growing new agencies within the area.

The worldwide industrial refrigeration compressor market includes key gamers along with Carrier Corporation (USA), Daikin Industries Ltd. (Japan), Johnson Controls Pvt. Ltd. (Ireland), Mitsubishi Electric (Japan), Bitzer (Germany), Emerson Climate Technologies (USA), Ingersoll Rand Inc. (USA), and Rechi Precision Co., Ltd. (Taiwan). These agencies play a large position in advancing refrigeration compressor technologies and assembly international calls.

In October 2018, BITZER introduced a brand new provider software program enabling carrier engineers talter refrigeration device parameters, analyse mistakes, show data logs, update firmware, and additionally calculate the overall performance records.

Segmentation Table

Global Commercial Refrigeration Compressor Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 4.1% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Type, cooling capacity, application and Region

By Type

Reciprocating

Rotary

Screw

Others (Scroll, Centrifugal)

By cooling capacity

Up t1 kW

1 – 15 kW

15 – 100 kW

Above 100 kW

By application

Refrigerator and freezer

Refrigerated Display Cases

Transport Refrigeration

Beverage Coolers and Freezers

Others (Vending & Ice Machines)

By Region

North America (U.S. and Canada)

Europe (U.K., Germany, France, and Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Latin America (Brazil, Mexico, and Rest of Latin America)